Why purchasing a NEW vehicle is less costly

With the release of the new ‘64’ plate vehicle registrations subsequent week, you might be considering upgrading your motor to some thing brand new.

But prior to some contrarian can say, ‘…new vehicles drop X% of their worth as quickly as they roll off the forecourt…’consider this new automobiles can be up to 25% more affordable to run than utilized vehicles. And that is according to our personal trusted analysis here at MoneySuperMarket.

Give me 5

Seeking at the following 5 well-known makes of vehicle under, we found that the expense (which involves items like fuel, road tax, insurance and MOT) of running the new version was less than that of running a 5-year old model.

• Nissan Qashqai
• Volkswagen Golf
• BMW 3 Series
• Ford Fiesta
• Vauxhall Astra

The largest saving was on the VW. Compared to the expense of operating a 5-year-old Golf, the new model would save you £422 (or 25%) more than a year.

For a brand new, 1.25L, petrol Ford Fiesta, the UK’s most well-known motor, running charges are £351 less costly than they would be on a 5-year-old version. Similarly, a new Nissan Qashqai will land you with annual operating fees of £1,804 – whereas a half-decade-old Qashqai would cost you an further £243.

And in all 5 situations, the new model was less costly to insure than its predecessor, despite getting a higher worth.

Prior to you take the plunge

Dan Plant, customer finance professional at MoneySuperMarket, mentioned:

“For some, buying a brand new auto may possibly seem prohibitively pricey. However, with the drive from companies to produce far more fuel efficient and safer models, as effectively as some ‘free road tax for the very first year’ schemes, the expense of running and insuring a new vehicle is typically far cheaper than older versions of the exact same automobile.

“Of course, a new car will always have a greater headline price tag than a second hand one particular in the identical model, but the savings you can make on operating costs alongside prospective offers offered on new cars by keen salespeople could outweigh that. Plus you’ll generally get a decent warranty, and that beautiful new automobile smell!

“The expense of automobile insurance varies hugely based on the automobile you acquire, so just before taking the plunge on your dream ride it is properly worth carrying out a comparison to see what you can afford.”

Depending on how this analysis sways your opinion, you may want to study my write-up on How to pay for your new auto.

If money was not a issue, what brand new auto would you fancy? Tell us in the comments.

Why purchasing a NEW vehicle is less costly